LimeWire Could Return with NFT Focus
Founded in 2000, LimeWire was a peer-to-peer (P2P) file-sharing program that enabled its customers to download and upload files through their laptop/computer desktop software.
It evolved to become one of the most recognized file-sharing programs worldwide. The software was downloaded on 18% of all active desktops. The software was operational on systems that had Windows, macOS, Solaris, or Linux installed.
How was LimeWire Used?
LimeWire was based on Gnutella, a network protocol enabling individual machines to function with each other. Using the software, users were allowed to download and upload a diverse number of file formats, comprising MP3 (for music), AVI/MPEG (video), JPG (images), and more.
Initially, the end-user had to install the software through its website or any third-party website (for example, CNET) to operate LimeWire. Then the user could proceed and open the file that launches the Installer Wizard. After installing the software, the user had to choose the local folder where they wanted to save the LimeWire files. Finally, the software would ask for user permission to bypass any firewall software.
Once the software is completely downloaded and launched on the desktop, users can download any file they need for their computer.
LimeWire was operational in its free version. If users want to boost download speeds and search results, and access tech support, they could upgrade to LimeWire Pro for an annual fee of $21.95.
LimeWire was eventually closed down in October 2010 after a long-lasting legal battle with the Recording Industry Association of America (RIA+A).
LimeWire - May Relaunch
The peer-to-peer file-sharing software LimeWire is relaunching as a music-centered NFT marketplace.
The LimeWire website was taken over by Austrian brothers Paul and Julian Zehetmayr. They plan to enter the market for digital collectibles with an emphasis on entertainment content, music, and art.
With the relaunch of the renowned platform, followers and collectors will be able to purchase and barter items, for example, pre-release music, limited editions, demos, exclusive live performances, album artwork, and digital merchandise. The relaunched platform will also reportedly hit up to payment alternatives for NFTs, which are generally restricted to cryptocurrency, to authorize payment by credit cards.
The new platform, LimeWire GmbH, will reportedly present musicians with the opportunity to increase their revenue from their music than they would make on other mediums such as Spotify or Apple Music.
In May 2022, the launch is assigned to go forth with 10 recognized musicians supposedly already involved (they remain unnamed). After big names like H.E.R. and Wu-Tang Clan, members of the administration teams will also be entering the startup's boards as counselors this year.
It will be intriguing to witness how the upcoming version of LimeWire fares.
Author: Priya Kumari
Priya is a passionate content writer and the co-founder of Finendorse. She is an enthusiastic crypto investor and has a huge interest in the upcoming digitisation age.